Part of caring for your loved ones is making sure that they have the financial resources they need. Generational wealth is one way that you can provide that for your children and loved ones.
Generational wealth comes in many forms, but the simplest way to put it is that it includes any financial resources you give to your children, their children, and beyond, offering them a head start in life so they don’t have to start from zero.
The most basic form of generational wealth is money. That can be in the form of simple cash or other valuable assets, such as a car, home, or investments.
Support systems are another form of generational wealth that doesn’t strictly require that you have a lot of money to give to your kids. Simply being there and being willing to help can help your children get a leg up in their financial life.